Free Forex Signals – Lots of News, Little Movement
EURUSD Daily Analysis: A lot of news on the calendar today (mostly for the pound) could help nudge the EURUSD, which moved slowly upward in a bullish consolidation channel yesterday. We did see some downward movement but in our view a break below 1.1130 is needed to signal a top was formed above 1.12. Until then we are short-term bullish and operating under the assumption that 1.1090 is a short-term bottom on the way up to 1.1260. If 1.1130 is broken to the downside 1.1090-1070 and 1.1040 below that should provide support.
Our Preferred Trades*: Even with the short-term bullish view there is not a high probability setup on the charts so we will stay flat for the day. Aggressive traders could look to scalp longs off of 1.1130-1.1150 support region.
Yesterday's EURUSD SwingPRO Signal Result: No trades triggered yesterday.
Today's SwingPRO Signal: See preferred trades above.
*CandlePRO: CandlePRO can be used in conjunction with our daily analysis and "our preferred trades." For example, if we prefer "going short" or "selling a rally" then we would look for bearish candlestick signals after a rally or near resistance levels. Alternative if we prefer "going long" or "buying a dip" then we would look for bullish candlestick signals on price drops or near support levels.
Today's Important News Events: